(a) Notes receivable (b) Accounts receivable (c) Retained earnings (d) Sales (e) Operating expenses (f) Income taxes payable a. b. Using horizontal analysis, show the percentage change and direction (increase or decrease) from Year 1 to Year 2 with Year 1 as the base year. If an item is impossible to compute, enter a "0" in the percentage box and select "No possible to compute" in the narrative box. C. d. e. f. X % X% X % X % X % Year 2 $25,500 106,200 77,000 654,000 160,000 28,000 X % Decrease Increase Increase Increase Decrease Year 1 Increase $30,000 90,000 70,000 600,000 200,000 20,000 ✓ ✓ ✓ ✓

(a) Notes receivable (b) Accounts receivable (c) Retained earnings (d) Sales (e) Operating expenses (f) Income taxes payable a. b. Using horizontal analysis, show the percentage change and direction (increase or decrease) from Year 1 to Year 2 with Year 1 as the base year. If an item is impossible to compute, enter a "0" in the percentage box and select "No possible to compute" in the narrative box. C. d. e. f. X % X% X % X % X % Year 2 $25,500 106,200 77,000 654,000 160,000 28,000 X % Decrease Increase Increase Increase Decrease Year 1 Increase $30,000 90,000 70,000 600,000 200,000 20,000 ✓ ✓ ✓ ✓

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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